Arizona License LawIntermediateArizona Exam
Which of the following BEST describes 'limited dual representation' under Arizona license law?
AA situation where a broker simultaneously represents two competing buyers who are both interested in making an offer on the same property marketed by another broker
BA situation where an agent represents both buyer and seller in the same transaction with written informed consentCorrect
CA situation where a broker operates two separate brokerage offices in different Arizona counties, with each office licensed under a different designated broker
DA situation where a salesperson holds active licenses in two different states and represents parties in transactions in both states during the same time period
Why A situation where an agent represents both buyer and seller in the same transaction with written informed consent Is Correct
Answer B: A situation where an agent represents both buyer and seller in the same transaction with written informed consent
Arizona permits limited dual representation (dual agency) only with written informed consent from both parties. The licensee represents both the buyer and seller in the same transaction.
Key Arizona License Law Terms in This Question
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
State-Specific Concepts
License Law
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